SVY - Stavely Minerals

[Dona Ferentes]

Down 25 per cent, now 13c

Thursday’s Gossan Porphyry Target – Drilling Update

Three deep diamond drill holes completed, but primary target remains untested

•  Three of the four planned 800m deep diamond drill holes at Thursday’s Gossan have been completed, with all three intersecting zinc-rich mineralisation consistent with a number of previous holes drilled below the plunge of the high-grade copper-gold-silver Cayley Lode.
• Despite four attempts (two holes and two wedges), the south-easternmost diamond drill hole, which was designed to test the high-priority deep porphyry target, could not be progressed through a major structural zone to the target depth.
• As a contingency, an alternate drill hole has been designed to test this target from an east-to-west drill direction to avoid the problematic structural zone. Drilling is expected to resume in September once rig access can be re-established following the winter rain period.
• This primary target zone has a number of prospective attributes including:

o It is underlain by a discrete magnetic feature;
o It is proximal to the intersection of north-south and north-west (Cayley Lode) structures; and
o It sits below a significant copper-in-soil auger anomaly.

Several key business development initiatives are currently being evaluated to enhance shareholder value.

 

[Gringotts Bank]

Any hope for this company? Gradually nearing its all time lows on negligible turnover.

 

[Gringotts Bank]

Some hope the very next day. Drilling has been brought forward.

I hate penny dreadfuls, but I make an exception for Staveley. Burnt me a few times, but I still love it. I'll wait to see if 12.5 gets taken out, I think.

 

[Dona Ferentes]

Some hope the very next day.

And then...

HIGHLIGHTS
• Binding commitments received for A$3.55 million placement to institutional and sophisticated investors at A$0.09 per share
• One (1) Placement Option offered for every two (2) Placement Shares at a strike price of $0.15 and an expiry of 30 June 2024. The intention of the Company is to have the placement options listed.
• Net proceeds will be applied to exploration, resource definition drilling and working capital

. Burnt me a few times, but I still love it. I'll wait to see if 12.5 gets taken out, I think.

Now trading sub 10c

 

[Dona Ferentes]

Stavely has had a bit of a lift this month, but still well off recent placement of 9c

The Ann. on 09 May had little impact (some spend, outlook undefined?)

.
and then the 14 May Announcement had some speculative interest. Last point => a freebie?

.
but really, SP only lifted later, in the next week ( weekend bbq chat? )

 

[Dona Ferentes]

but really, SP only lifted later, in the next week ( weekend bbq chat? )

at 4.7c ...my June comp dart

BIG Targets
Stavely Project - Thursday’s Gossan Prospect
● High-Grade Cayley Lode Cu-Au-Ag discovery
● 9.3Mt at 1.23% Cu, 0.23g/t Au and 7.1g/t Ag2

Junction Lode
● 35m at 3.44% Cu and 26g/t Ag
● New structural interpretation provides discovery opportunity
Stavely Project - S41 Au-Ag Prospect
● ~2km long x 750m wide hydrothermal breccia, only 1 x diamond drill hole to date
● Carbonate – base metal – gold system e.g.: Kidston, Mt Leyshon, Kelian

Hawkstone Magmatic Ni-Cu-Co Project
● Adjacent to IGO / Buxton Merlin / Double Magic discovery – ave. 8% Ni tenor, new Dogleg discovery – emerging magmatic nickel province
● E.g. Nova & Bollinger, Jinchuan, Voisey’s Bay

 

[Dona Ferentes]

at 4.7c ...my June comp dart ?

BIG Targets

luckily it wasn't a June comp entry .... now 3.7c after CR @, let's see, 3.7c

_______________________________________
HIGHLIGHTS
• Binding commitments received for A$3.65 million placement to institutional and sophisticated investors at A$0.037 per share
• One Placement Option offered for every two Placement Shares at a strike price of $0.07 and an expiry of 31 December 2025. The intention of the Company is to have the Placement Options listed.
• Net proceeds will be applied to diamond drilling at Stavely’s Junction copper project, commercial viability studies, exploration at the Hawkstone project and working capital.